Dukascopy Bank Team
Dukascopy Bank SA
Let's see what news publications could shake up the FX markets on this Wednesday, January 23rd. The UK CBI Industrial Trends Survey for January opens this agenda at 11 o'clock in the morning. Survey balance slipped in December from November's level of plus 10 and the downtrend is expected to continue this time around as well. The publication of the Canadian Retail Sales for November could then shake up the Loonie Dollar at 1:30 PM GMT. Sales were up by three tenths of a percent in October to 51 billion Canadian Dollars. Higher sales at motor vehicle and parts dealers and gasoline stations were the main contributors to the gain. The US House Price Index for November will then be available a half an hour later. Prices were up by point 3 percent in October and the last monthly contraction was posted in early 2014. Euro Zone Consumer Confidence update for January is up next at 3 PM. Consumer confidence continued deteriorating in December as the index dropped to minus 6.2. This was the seventh consecutive month in the red. The high importance Australian Labour Force Survey for December then wraps up this calendar at a half past midnight GMT. The seasonally adjusted employment was up by 37 thousand, pushing unemployment down to 5.1 percent.
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AUD/USD remained bid above 0.6500
AUD/USD extended further its bullish performance, advancing for the fourth session in a row on Thursday, although a sustainable breakout of the key 200-day SMA at 0.6526 still remain elusive.
EUR/USD faces a minor resistance near at 1.0750
EUR/USD quickly left behind Wednesday’s small downtick and resumed its uptrend north of 1.0700 the figure, always on the back of the persistent sell-off in the US Dollar ahead of key PCE data on Friday.
Gold holds around $2,330 after dismal US data
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Bitcoin price continues to get rejected from $65K resistance as SEC delays decision on spot BTC ETF options
Bitcoin (BTC) price has markets in disarray, provoking a broader market crash as it slumped to the $62,000 range on Thursday. Meanwhile, reverberations from spot BTC exchange-traded funds (ETFs) continue to influence the market.
US economy: slower growth with stronger inflation
The dollar strengthened, and stocks fell after statistical data from the US. The focus was on the preliminary estimate of GDP for the first quarter. Annualised quarterly growth came in at just 1.6%, down from the 2.5% and 3.4% previously forecast.